Indian equity markets are expected to open on a firm note today, extending the late-session recovery seen in the previous session. Improving global risk sentiment is likely to encourage fresh buying from oversold levels and prompt short-covering across derivative segments. Additionally, rising optimism ahead of the upcoming Union Budget could lend further support to investor sentiment, setting the stage for a positive start to the trading session. Meanwhile, sustained pressure on the Indian rupee against the U.S. dollar, continued net selling by foreign portfolio investors, and unresolved geopolitical tensions in the Middle East could act as near-term headwinds, potentially restraining market momentum at higher levels despite improving risk sentiment. 

Nifty 50

Nifty 50 has staged a measured rebound, holding near 25,175 and showing resilience above key support levels. The long-term rising channel (2022–2025) remains intact, with 24,750–24,900–25,000 acting as a strong multi-year demand zone on the daily chart. Recent price action reflects consolidation between 25,000–25,200, where the 200-day EMA 25,163 has offered reliable support. Momentum indicators show early improvement, with RSI recovering from deeply oversold levels (29 ? 34), opening the door for a short-term relief bounce. Immediate resistance stands at 25,200–25,300; a decisive close above 25,400 would strengthen the short-term structure and invite follow-through buying. On the downside, a break below 24,900 could reopen risk toward 24,500, keeping risk management critical.

Bank Nifty 

Bank Nifty continues to outperform the broader market, reclaiming the 59,000 mark and displaying relative strength post key bank earnings. The index is holding above crucial trendline supports, reinforcing its leadership role in the current phase. The 58,500–58,800 zone remains a strong demand area, supported by the rising trendline, recent swing lows, and the 100-day EMA 58,162. As long as this zone holds, the bias stays mildly positive, with 59,500 as the immediate upside hurdle. A sustained breakout above 59,500 could open the path toward the psychological 60,000 level, potentially triggering fresh momentum. Improving RSI readings suggest buy-on-dips interest near 58,800–59,000, though option positioning and strike concentration may temper aggressive upside moves.